Ukrainian experts are skeptical about new free economic zone in Serpents Island

Former Ukrainian minister Sergey Terekhin sees as awkward the idea regarding the creation of a new free economic area on Black Sea isle of Serpents Island, which is subject of a dispute between Ukraine and Romania. In an interview for Ekonomicheskye izvestya, he urges people to look at photographs of the area, that fully sustain his argument.

He adds that an industrial factory should first be build so that the International Justice Court can consider that Ukrainians actually trade on the island. Terekhin said that setting up a free economic area would lead to the construction of a casino.

Former Minister Anatoly Kinakh underlined that an offshore investment would definetely attract investments in tourism and fishing. However, he does not argue that an off shore would pave the way to natural resource exploitations.